The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports--the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses Data concerning the company's cost formulas appear below Fixed Cost Cost per per Month Course $ 2,970 Cost per Student $ 290 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ 75 $ 1,240 $ 5,100 $ 2,300 $ 3,700 $ 41 $ 6 For example, administrative expenses should be $3,700 per month plus $41 per course plus $6 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students, however, it actually ran four courses with a total of only 60 students. The actual operating results for September appear below Revenue Instructor wages Classroom supplies Utilities Actual $ 54,060 $ 11,160 $ 18,410 $1,950 For example, administrative expenses should be $3,700 per month plus $41 per course plus $6 per student. The company's sales should average $890 per student The company planned to run four courses with a total of 64 students, however, it actually ran four courses with a total of only 60 students. The actual operating results for September appear below Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 54,860 $ 11,160 $ 18,410 $ 1,950 $ 5,100 $ 2,440 $ 3,674 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts os positive values.) Goog School oble Budget Polo Rapun For the Month Ended September 30 cial Results Planning Budget 4 Courses Students 60 $ 54,060 Revenue Expenses Instructor wages Classroom supplies Uslities Campus rent Insurance Administrative expenses Total expense Net operating income 11,160 18,410 1.950 5,100 2.440 3,674 42.734 11326 $